Question 1

Can I buy a home in Del Rey Oaks without a Social Security number?

Accepted Answer

Yes. ITIN loans are designed exactly for this. You need a valid ITIN and documented income — not an SSN.

Question 2

How much do I need for a down payment on an ITIN loan?

Accepted Answer

Most ITIN lenders require 10-30% down. A larger down payment usually gets you a better rate. Rates vary by borrower profile and market conditions.

Question 3

Do I need U.S. credit history to qualify?

Accepted Answer

Not always. Some lenders accept alternative credit — utility payments, rent history, or foreign credit reports. Ask your broker which lenders allow this.

Question 4

How long does an ITIN loan take to close?

Accepted Answer

Plan for 30-45 days. Non-QM underwriting is more manual than conventional loans. Having clean documentation ready speeds things up considerably.

Question 5

Can I use bank statements instead of tax returns for an ITIN loan?

Accepted Answer

Some lenders allow it, especially for self-employed borrowers. You'll typically need 12-24 months of statements showing consistent deposits.

Question 6

Are ITIN loan rates higher than conventional rates?

Accepted Answer

Yes, generally. Non-QM products carry a risk premium. The gap narrows with a larger down payment and strong income documentation. Rates vary by borrower profile and market conditions.

ITIN Loans in Del Rey Oaks, CA